After a five-year legal battle, Elon Musk's X Corp and former Twitter employees have reached a tentative deal to settle a lawsuit over $500 million in severance pay. The settlement would resolve a proposed class action filed in California, where employees argued that the company owed them more severance pay than what was given. The financial terms of the deal were not disclosed, but attorneys for both sides have asked for a delay in court proceedings to finalize the agreement.
A regulatory panel in India has suggested a limit on intraday positions in equity derivatives to prevent manipulation after a U.S. high-frequency trading firm's strategies caused losses for retail investors. The Securities and Exchange Board of India is reviewing the rules for equity derivatives and will make a final decision on the proposed limit. The regulator plans to impose penalties and stricter monitoring of positions for firms found in violation of the limit, as well as holding trading members accountable for foreign entities trading through intermediaries.
With President Trump urging the Federal Reserve to lower interest rates to boost economic performance and reduce government debt, all eyes are on Federal Reserve Chair Jerome Powell's highly anticipated speech at the Jackson Hole Economic Symposium. However, Trump's pressure campaign on the Fed has escalated this week, with calls for Fed Governor Lisa Cook to resign. Powell must navigate a delicate balance between concerns over inflation and maximizing employment, as the central bank considers its first interest rate cut in over eight months.
Investors are on the edge of their seats waiting for Federal Reserve Chair Jerome Powell's highly anticipated speech on Friday, where he will reveal the central bank's stance on interest rates. The market has been pricing in a near-certain rate cut in September, but with conflicting economic data, Powell's words could have a significant impact on stock prices. If he signals a more conservative approach, investors may pull back on their bullish bets and send the market tumbling.
Knowledge Realty Trust, a real estate investment trust jointly sponsored by Sattva Group and Blackstone, saw its units listed on the stock market with a 4% premium on the issue price of Rs 100 per unit. The company's market valuation reached Rs 47,328.35 crore, with its initial public offering (IPO) being oversubscribed 12.48 times. Knowledge Realty Trust owns over 46 million sq ft of office assets across major Indian cities such as Mumbai, Bengaluru, and Hyderabad. This comes after the recent successful listings of other REITs in India, including Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.
The Reserve Bank of India (RBI) is seeking public feedback on whether the current 4% retail inflation target should continue or be revised to boost growth in India's fast-growing economy. Under the flexible inflation targeting (FIT) regime, the RBI has been successful in maintaining stability, but is now considering using core inflation as a guide for monetary policy. The government has mandated the RBI to maintain a 4% CPI inflation target until 2026, but with significant changes in the global and domestic economic environment, the central bank is reviewing the target and has released a discussion paper seeking feedback from stakeholders on possible revisions.
On the occasion of actress Deepshikha Nagpal's birthday, Kashmera Shah took to Instagram to share two reels featuring her, Deepshikha and their friends having a great time. The reels also feature actress Tannaz Irani and tarot card reader Munisha Khatwani. Kashmera's fun-filled reels are a treat to watch and showcase the strong bond between the friends.
Sebi chairperson Tuhin Kanta Pandey has proposed a new regulated pre-IPO share trading platform that may replace the current unregulated grey market operations. This platform would allow investors to trade shares in the three-day period between IPO allotment and listing, reducing risks and providing a regulated environment for trading. The initiative aims to improve the overall IPO process and provide more transparency and stability to the market.
The Board of Control for Cricket in India (BCCI) has announced that it has secured copyrights for all its content until 2025. To accompany these rights, the BCCI has also released new terms and conditions and a privacy policy to govern the use of its content. These developments are expected to have a significant impact on the way cricket content is consumed and shared in the future.
The popular restaurant and country store, Cracker Barrel, has recently rolled out a new logo and redesigned interiors, sparking mixed reviews. However, in an interview with "Good Morning America," CEO Julie Felss Masino shared that the feedback has been overwhelmingly positive. She also announced the company's new "All the More" campaign, which highlights the unique experience of the restaurant and retail shop. Despite some criticism, Masino assures that the changes embrace the brand's identity and have been well-received by both customers and employees.